ECONOMIC INFORMATION

 

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Population: 4.0m

Population growth: 6.88%

Population density (people per sq. km): 48

UN Human Development Index ranking: 49/177

Gross national income (current US$): $72.2bn

Gross national income per capita: $19,253

PPP Gross national income: $79.0bn

PPP Gross national income per capita: $21,040

GDP growth: 7% (2003)

GDP breakdown Agriculture: 4%, Industry: 58.5%, Services: 37.5%

Inflation (12-month average): 0.71 (2002)

Gross capital formation as % of GDP: 21.5%

Final consumption expenditure as % of GDP (growth): 64.4% (8.1%)

Exports of goods & services as % of GDP: 69.9%

Top 3 export markets: Japan, India, Singapore ,

Local industries: Petroleum, fishing, petrochemicals, construction materials, some boat building, handicrafts, pearling

WEF Growth Competitiveness ranking * : 16/104

WEF Business Competitiveness ranking **: 28/103

WEF Quality of the Business Environment ranking: 26/103

Transparency International Corruption Perceptions ranking: 29/145

Languages : Arabic (official) English

 

 

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FDI INFORMATION

 

Region: Gulf

No. of projects (Jan-Sep 2004) : 262

Market-share of projects in the region: 57.8%

Value of projects relative to GDP

Top 3 destination sectors: IT & software, textiles, financial services

Top 3 business functions: Retail, sales marketing & support,business services

Top 3 source countries: UK, US, India

Top 3 investors: Kerzner International, Technip-Coflexip, Microsoft

 

 

IPA

 

Name: Dubai Development & Investment Authority

Web address: www.ddia.ae

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations